50 Algerian Companies Set to Conquer Russian Market at St. Petersburg International Economic Forum
BY: Hana Saada
ALGIERS- An Algerian economic delegation comprising over fifty private and public companies from diverse sectors has embarked on a working visit to Russia to participate in the prestigious 26th edition of the St. Petersburg International Economic Forum, taking place from June 14 to 17.
Tarek Boulmerka, the President of the National Association of Algerian Exporters (Anexal) and CEO of the private company “La Grande Vinaigrerie Constantinoise,” confirmed, quoted by l’algerieaujourdhui news website that this significant international economic event presents a unique opportunity for entrepreneurs from both countries to foster new partnerships and enhance economic and commercial exchanges across various fields. These include the food industry, mechanical engineering, electronics, and pharmaceuticals.
Boulmerka highlighted the ongoing discussions between Algerian and Russian business leaders, as well as purchasing centers based in France. The aim is to facilitate and strengthen trade between the two countries, fostering bilateral commerce in multiple sectors, particularly agriculture, and agri-food.
The participation of Algerian business leaders, including those affiliated with Anexal and the Algerian Economic Renewal Council (Crea), in the 26th edition of the St. Petersburg International Economic Forum is a natural progression following the intensified business relations between Algeria and Russia in recent months. This comes after several visits made by Russian business leaders to Algeria, demonstrating their keen interest in exploring trade, partnership, and investment opportunities.
Boulmerka expressed that while Algeria currently exports primarily dates and olive oil to the Russian market, there are promising new avenues for Algerian companies to diversify their exports, particularly in the agri-food sector. He also emphasized that numerous other products have piqued the interest of Russian partners due to their potential competitiveness in the market.
On the other hand, Russian companies are eager to strengthen trade and partnerships with Algerian counterparts. They aim to capitalize on the opportunities presented by Algeria in various investment areas and gain better access to the vast African market.
According to Boulmerka, Russian companies view the Algerian market as an ideal economic platform, offering significant advantages. Algeria’s strategic geographical position serves as a gateway to the African continent and an ideal route to the southern Mediterranean shore. Russian firms are keen to establish production units in Algeria, particularly in the fields of mechanics and agri-food, in order to facilitate their expansion into Africa.
Algeria’s potential as a conducive market for this objective arises from its numerous comparative advantages, including its strategic geographic positioning and favorable trade policies. As a gateway to Africa, Algeria presents itself as an attractive investment destination, enabling Russian companies to expand their presence in the region.
The participation of fifty Algerian companies at the St. Petersburg International Economic Forum not only reflects the growing economic ties between Algeria and Russia but also signifies the shared commitment to foster mutually beneficial partnerships. By capitalizing on the strengths of both nations, this collaboration has the potential to yield significant economic growth and open new avenues for trade and investment between Algeria, Russia, and the African continent as a whole.
(Translated with adaptation: lalgerieaujourdhui news website)
